The prominent ride-sharing company Bolt has introduced electric tricycles (EVs) in Lagos, marking a significant step towards supporting Nigerian drivers with reduced operating expenses and easier access to vehicle ownership.
It was described as the latest investment in building transport solutions tailored to the realities of African cities, focusing on financial inclusion, income growth, and long-term sustainability for drivers.
The introduction of Bolt’s electric tricycle aims to tackle the financial strain experienced by drivers due to increasing fuel expenses and higher vehicle upkeep costs.
Through a ‘Lease-to-Own’ model in partnership with SGX, drivers can access brand-new electric tricycles with no upfront payment and own the vehicle outright after 24 months of consistent use.
Drivers participating in the programme will operate exclusively on the Bolt platform and within SGX-managed fleets, with continued access to preferential lease terms based on weekly performance benchmarks.
The introduction of these electric vehicle tricycles offers a more affordable option for cyclists, especially in densely populated, low-income regions where conventional ride-sharing services might be prohibitively costly or not accessible at all.
Bolt’s Regional Director of Rides Operations, Africa and International Markets, Caroline Wanjihia, said: ‘This initiative is about transforming how mobility works for the people who power our platform, the drivers, by giving them tools to reduce fuel spending, avoid upfront vehicle costs, and eventually own their tricycles, we’re putting more control and earning potential directly into their hands.
‘Nigeria, with its vast and dynamic population, is key to our strategy of making mobility economically viable and accessible for everyone.’
Osi Oguah, General Manager, Bolt Nigeria said: ‘This launch is a major step in addressing two critical challenges in Nigeria’s transport sector – driver income and commuter access. By introducing electric tricycles with flexible, lease-to-own options, we’re helping drivers save money, own their vehicles, and build sustainable livelihoods.
‘Simultaneously, we aim to provide commuters, particularly those in underprivileged regions, with a cost-effective and convenient means to travel within their cities. Our goal is to deploy 1,000 electric tricycles by the conclusion of 2025.’
Provided by SyndiGate Media Inc. (
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